The main hostels and boutique hotels platform acquires 100% of the shares of TOC Hostels from Ignacio Catalán and Salvador Torrens.
Room00 will close the year with 30 establishments open (20 in development) in three countries and 2,260 rooms, of which 900 are under construction.
MADRID, SPAIN / ACCESSWIRE / September 3, 2024 / Room00 Group, the main platform for hostels and boutique hotels in the Iberian Peninsula, and the Dorsa Holding group, buy 100% of the shares of TOC Hostels from Ignacio Catalán and Salvador Torrens for a value of around 20 million euros and become the largest hostel chain in Europe, expanding its presence in more countries and cities.
With this acquisition, Room00 Group will close the year with 30 open establishments (20 in development) in three countries and 2,260 rooms, of which 900 are under construction.
Thanks to the purchase, there will be a consolidation and expansion of the TOC Hostels brand throughout Spain, Portugal and Italy, foreseeing a turnover in its first year of at least 70 million euros.
It should be noted that Room00 Group will expand its current portfolio, made up of Room00 Hostel, Room Select Hotels and LETOH LETOH, with a fourth brand, in addition to increasing its geographical presence in Madrid, Barcelona, Seville, Malaga, Granada and Valencia.
"The acquisition strengthens the position of Hostels & Hotels as a leader in the sector, increasing its visibility, recognition and market share, representing a significant consolidation in the URBAN HOSPITALITY sector in the European market," says Ignacio Requena, CEO and founder of Room00 Group. "In addition, the combination of both companies will generate operational efficiencies, cost reduction and improvement of services. The acquisition of TOC Hostels by Room00 Hostels has the potential to significantly transform both companies and the market in which they operate, contributing. competitive advantages and new growth opportunities," he adds.
Each hostel chain has its own characteristics and approaches to design, services and customer experience. The acquisition will allow Room00 Group to offer a wider range of options to its clients, adapting to different preferences and budgets.
The operation has been advised by the Investment Banking area of CBRE, the leading international company in real estate consulting and services. As well as by Juan Busquets and Sonia Sclapers from Busquets Abogados on the purchasing side, and by Álvaro Hernandez Puertolas from Net Craman on the selling side.
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SOURCE: Room00
View the original press release on newswire.com.
